S 2568
113th Congress
Senate
Taxation
Bank accounts, deposits, capital
Elementary and secondary education
Higher education
Income tax exclusion
School athletics
Student aid and college costs
ACE Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 8, 2014
Read twice and referred to the Committee on Finance.
Jul 8, 2014
Introduced in Senate
Plain-English summary
Allocating for Children's Education Act or the ACE Act - Amends the Internal Revenue Code, with respect to Coverdale education savings accounts, to: (1) increase from $2,000 to $5,000 the maximum allowable contribution to such accounts in a taxable year, and (2) allow distributions from such accounts for the purchase of athletic equipment at elementary and secondary schools.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1